Letting agents - are they worth the money?

I am looking to rent out an apartment for the first time and am wondering how I should go about looking for a tenant. Should I try to do the whole thing myself or is it better in the long run to use a letting agent? Can anybody advise me, ideally based on their own experiences?

Thanks in advance for any help.

Just a few thought ....

Do you live within a reasonable distance to the property in case of emergencies?
Do you know and understand all the laws (The Residential Tenancies Act2004 being the most important) relating to renting your property?
Do you know the Housing Standards for Residential Properties?
Do you know all a landlord's obligations and rights?
Do you know all a tenant's obligations and the tenant's rights?
What type of lease will you use, Fixed term, Part 4 or Periodic?
Do you know the difference between them and the tenant's rights for each?
Will you remain resident in Ireland for the duration of the tenancy?
Do you know the procedures required by law to evict a tenant for arrears of rent or other breach of tenant's obligations?
As a landlord, you are responsible for the anti-social behaviour of you tenants towards third parties (neighbours, and their property, excessive noise etc).
Do you know how to vet a tenant to try to ensure that they will be suitable tenants?

If you cannot deal with these and many other problems that may arise, you may leave yourself open to claims for damages from either tenants or third parties (often in the thousands of euros).

Having said all that, there seem to be very few estate agents or letting agents who are also fully fully conversant with all the renting laws and it can be difficult to know beforehand as to their competence in the matter.

You'd only use a letting agent if you are unable to do it yourself. That my 2cents.

facetious said:

Having said all that, there seem to be very few estate agents or letting agents who are also fully fully conversant with all the renting laws and it can be difficult to know beforehand as to their competence in the matter.

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A letting agent will be long gone with his money by the time you have to sort out the list above, it's on the taxpayers head to have everything in order and no letting agent will take responsibility for anything. And why would they.

To answer the OP, you are far better off letting the property yourself. But before you do so make sure you know what it involves. Particularly registration with the PRTB etc.

Bronte said:

A letting agent will be long gone with his money by the time you have to sort out the list above, it's on the taxpayers head to have everything in order and no letting agent will take responsibility for anything. And why would they.

To answer the OP, you are far better off letting the property yourself. But before you do so make sure you know what it involves. Particularly registration with the PRTB etc.

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The point of my post was that if the OP was not able to answer all the questions in post #2, then he would be better having an agent who does know - but knowledgeable agents are far and few between.